ASHINGTON, June 12, 2012 – API Executive Vice President Marty Durbin said API was encouraged by the tax reform objectives put forward yesterday by Senate Finance Committee Chairman Max Baucus in remarks delivered to the Bipartisan Policy Center:
“Senate Baucus is setting the right agenda by focusing on jobs, innovation, competitiveness and opportunity. These are essential points when considering how to reshape our tax code. His statements provide a hopeful sign the Senate will consider all issues and industries equally as this effort unfolds in the near future. We understand that tax reform won’t be easy, but we look forward to working with the chairman and the finance committee in their efforts to produce tax rules that are simpler, more economically simulative, and fairer to all taxpayers.”
API represents more than 500 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.